Publicly listed Bitcoin miners have battled unfavorable market conditions in 2022 and sold off almost all of their newly mined Bitcoin, but new data suggests the tide may be turning.
) miners sold off almost all of the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created"a persistent headwind" for the Bitcoin price or not.
Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet, indicating that approximately 40,300 of the 40,700 BTC mined by Core Scientific, Riot, Bitfarms, Cleans Park, Marathon, Hut8, HIVE, Iris Energy, Argo and Bit Digital from Jan. 1 to Nov. 30 was sold off.detailed here mined ~40.7k BTC and sold ~40.3k in 2022
This is a persistent headwind for BTC and for no other reason a good thesis to be bullish the ETHBTC ratio trade
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